1810 New Getwell Rd Memphis, TN 38111
- Warehouses
- 47,070 SF
- 6.37 lot acres
Current Use by Public Records
- Warehouses
Property Details for 1810 New Getwell Rd
- Year built
- 1973
- Lot size
- 6.37 lot acres
- Property size
- 47,070 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a stabilized, single-tenant industrial property located at 1810 New Getwell Rd, Memphis, TN 38111. The 47,070-square-foot building, situated on a 6.37-acre lot, is currently 100% occupied by Beacon Roofing Supply, a Fortune 500 company with over $9 billion in 2023 revenue. The property boasts a Class C rating and features a Net Net + (NN+) lease structure with a remaining lease term of 6.9 years, expiring October 31, 2031. The lease commenced November 1, 2021, and includes 1.5% annual rent bumps and two seven-year option periods, providing a hedge against inflation. The asking price is $5,600,000, representing a compelling cap rate of 6.42% with a current NOI of $359,429. The property underwent renovations in 2021, including a new roof, demonstrating the tenant's long-term commitment. Its strategic location, six miles from Memphis International Airport and thirteen miles from downtown Memphis, within a dense population area with high average household income, further enhances its value. This is a mission-critical location for Beacon Roofing Supply, being the only one within an 85+ mile radius. The property's subtypes include distribution, flex, and warehouse, making it a versatile and attractive investment. Built in 1973, this property offers a strong return on investment with a stable, high-credit tenant and significant growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9293
- Latitude
- 35.0816
